)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
CleanSpark (CLSK) investor relations material
CleanSpark Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary25 Nov, 2025
Executive summary
Achieved record fiscal year 2025 revenue of $766.3 million, more than doubling year-over-year, with 55% gross margin and operational hash rate surpassing 50 EH/s, all U.S.-based.
Net income reached $364.5 million, reversing a prior year loss, and adjusted EBITDA surged to $823.4 million.
Strategic pivot underway to become a diversified digital infrastructure platform, expanding into AI, HPC, and grid balancing, leveraging power and land assets.
Secured a 285 MW Texas site for a purpose-built AI factory, expanded partnerships, and hired leadership for AI initiatives.
Closed a $1.15 billion 0% convertible note financing to fund infrastructure and power expansion.
Financial highlights
Full-year revenue grew to $766.3 million, with nearly 8,000 Bitcoin produced and gross margin at 55%.
Adjusted EBITDA reached $823.4 million; normalized for non-cash Bitcoin gains, adjusted EBITDA from operations was $305 million (40% net margin).
Net income for the year was $364.5 million, with Q4 revenue at $223.7 million and net income of $126.4 million.
Bitcoin treasury grew by 62% to over 13,000 BTC, valued at $1.2 billion.
Total assets reached $3.2 billion, with stockholders' equity at $2.2 billion.
Outlook and guidance
Plans to rapidly scale into AI and HPC data center revenues, leveraging project-level financing and expanded power portfolio.
Expecting increased professional fees, payroll, and G&A as AI strategy is executed.
AI data center business anticipated to provide stable cash flows and high margins, supporting resilience against Bitcoin mining volatility.
Specific AI compute services planned?
Dilution impact of convertible debt?
Resource allocation between Bitcoin and AI?
First AI tenant lease timeline
Future AI data center financing strategy
DAM target annualized yield
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next CleanSpark earnings date
Q1 20265 Feb, 2026
Next CleanSpark earnings date
Q1 20265 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
CleanSpark Inc provides energy solutions including Bitcoin mining, microgrid systems, and energy storage technologies. The company offers products and services aimed at optimizing energy usage, improving grid resilience, and promoting renewable energy adoption. CleanSpark serves the energy and digital asset industries through a combination of software, hardware, and operational capabilities. The company is headquartered in Draper, Utah, and its shares are listed on the NASDAQ.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage